Germany unwilling to invest in Armenia due to Karabakh conflict
Baku, Azerbaijan, Nov. 22
German companies and investors are interested in stable countries with large markets, Matthias Kiesler, German extraordinary and plenipotentiary ambassador to Armenia, told reporters, aysor.am news website reported Nov. 22.
The ambassador added that German companies and investors are not interested in Armenia.
“Unfortunately, the German media reports about unstable situation in Armenia or the region due to the Armenia-Azerbaijan Nagorno-Karabakh conflict,” the ambassador said. “Such news creates obstacles for small and medium-sized enterprises to invest in Armenia.”
The conflict between the two South Caucasus countries began in 1988 when Armenia made territorial claims against Azerbaijan. As a result of the ensuing war, in 1992 Armenian armed forces occupied 20 percent of Azerbaijan, including the Nagorno-Karabakh region and seven surrounding districts. The 1994 ceasefire agreement was followed by peace negotiations.
Armenia has not yet implemented four UN Security Council resolutions on withdrawal of its armed forces from the Nagorno-Karabakh and the surrounding districts.